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in the pacific. not just about china, but about some of the intraasian problem that is we're seeing. and if you can doing what our economists at aei absolutely revile, link it back to some of of the, you know, economic questions that we face and the prosperity that we've gotten used to up to a point? >> thanks. well, first,ing now you know how asia feels in these discussions, always sort of last, and when attention comes, it's sort of quick. [laughter] >> this is why you grew a beard. >> exactly. let me, let me mention three things. that i think will be on the radar that we should be aware of. and then link it, actually, back to the broader discussion, what dani asked about the economics. um, so, you know, if tom was talking about the immediate game and fred was talking about the short-term game, asia sees itself as the long-term game. and they sue -- they view what's going on there in those terms. of it's not something that -- well, whatever i'm about to mention, they don't think it's going to be resolved tomorrow. they don't think that the trends they're dealing with are at any point in time
a trade balance of almost $30 billion, 29.5. now, for the second year in a row china's our major export destination. remarkable growth there. since 2005 exports to china have been growing by about 20% annually, and so now that they are now our top export market. if you look at what we're sending to china, no surprise, it's dominated by soybeans and cotton. they account, have accounted in recent years as much as three-quarters of total trade to china. but if you look at some of the minor but still quite large other exports for things like coarse grains -- corn, for example -- if you look at feeds and fodders, distilled or dried grains, for example, or red meats, you see that those are showing impressive growth figures as well. in terms of overall exports, values are up for most of the commodity categories. again, these are exports on a fiscal year basis. you can see that up for most of these categories with the one exception being corn, and we'll get into corn. but largely these are price-driven events. we do see volumes up for some categories, but for most of the individual commodity ca
for because everybody else was coming from india and china. which is a great thing. i wish we had more native-born americans get into the hard sciences, but we need to welcome people from throughout the world to come here and get an education. do you agree with that, secretary duncan? >> absolutely. >> and, secretary napolitano, we should make it easy for them to stay and be part of our country, do you agree with that? >> absolutely. >> i just don't see how we fix our immigration and education system if we're going to cut the budget like this. one final question. if we found ourselves in sort of budgetary triage where we keep doing this dumb thing and this dumb thing a momentum of -- has a momentum of its own and begins to take a life of its own and i'm up here having to decide where the money goes, would you agree with me, secretary duncan -- and i know you don't like this position you would find yourself in -- that if i had to pick between the secretary, the d., the d. of education and the department of defense, i should pick the department of defense over your department? >> again, i think
, civilizations. look at china. china's not a nation, china's a civilization. india. i would ya's not a nation -- india's not a nation, it's a continent with 2,000 different ethnicities, 33 languages -- 22 languages and at least four major religions. and the united states is a multiculturalcountry, so europe hasn't got a future unless as you said, mr. president, we move towards being a federation. i would say an empire, but empire in the good sense of the world. and a european civilization people deny the existence of europe. it's not some kind of chimera, it needs to be something we can see from the -- [inaudible] to the atlantic. and let's be honest with our citizens and with our voters. how can we sort off the the financial -- out the financial crisis, the economic recession? climate change? these are all issued which require concerted action, an overall approach going beyond the borders of international sovereignty. what we need to say to our citizens today is that it's at europe-level, that that sovereignty must be put together again. we should defend our interests, because that's the onl
belligerent nuclear-armed north korea and a bellicose china. i do not believe he will chart the right course for our country , and the effect of his decisions on these topics will last for decades. i do appreciate that the president will nominate candidates that hold very different views that i do. my support for senator kerrey's nomination indicates this. but i cannot support a candidate whose views are so far afield. as the "washington post" editorial board indicated, these positions are far to the left of those held by president obama. for all those reasons i cannot support his nomination. thank you, mr. chairman. >> inky very much. senator donnelly. not here at the moment. senator cain. >> thank you, mr. chair, mr ranking member, and colleagues. i am honored to serve with you on this committee, one of my personal and political heroes appeared and talked about his committee service that in most blow it away. a decorated war veteran of two service breaks is, navy and marines and was a secretary of the navy but said his proudest public service was his service says committee member, both rak
with countries like china. and today i happened to release a report which looks at the effect of currency manipulation, which is perhaps the single most important factor which explains the growth of the trade deficit. i've shown that in limiting that trade deficit -- sorry, eliminating currency manipulation could reduce that trade deficit by roughly $190 billion to $400 billion and create between 2.2 million and 4.7 million jobs. doing that would increase manufacturing employment by up to 1 million jobs. that's a big down payment on the hole we've created in manufacturing employment. soy think one of the things we need to do is create demand for more manufacturing products. that's what we did many the 1990s but didn't do in the last decade. if the demand was, there it went to foreign sources. we need to shift that to domestically produced goods and that will result in the hiring of domestic workers. we need those jobs because manufacturing jobs are among the best jobs for workers, especially those without a college degree. they pay high wages, have good benefits compared to other kinds of
Search Results 0 to 5 of about 6

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